Quote:
Originally Posted by ardecila
Huh?
This thinking makes absolutely no sense. First of all, tall buildings are expensive. Building shorter would increase the developers' discretionary funds to attempt things like underground parking, or a parking podium that's one story taller to allow ground-floor retail.
Since the developers' costs have lowered, they then pass along the savings to the buyer. Why on earth would unit prices go UP?
I disagree with WLCO's automatic reaction to height, though. WLCO needs to work closely with developers and push first for buildings that fill the lot, include retail, and meet the developer's desired number of units. Most of the time, that will result in a building that meets their height limitation anyway. If it's a bit over, they need to start being flexible. Last time I checked, there weren't too many developers pushing for really tall buildings in the West Loop. Skybridge is a notable one; there's also a 20-story proposal along Van Buren.
I dunno; I guess it's just my preference for buildings that fill their lots, like the ones in the Loop, or in New York. Thin buildings sitting on wide podiums seem ugly to me. Also, we have neighborhoods (South Loop, Streeterville, River North) which are still woefully incomplete in their high-rise development. I'd much rather have a complete mid-rise environment in West Loop and a complete high-rise environment in South Loop.
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False, there have been multiple proposals for high-rises in West Loop Gate, you just do not hear much about them beacuse WLCO kills them.
-Emerald was originally planned as one tower before WLCO squished into two, even at 12 stories Eric says its still too tall, but they give it a pass.
-A 32 story building on the Carmine's Steakhouse property at Racine and Monroe. This one had a public park planned as a result of building taller and thinner. WLCO wants more green space, however by pushing buildings to shorter and to the lot lines they will not recieve any. They cried "too tall", "too tall". The developer came back with 19 stories, and it was still too tall, so its been canceled.
-A 20+ story tower on Jackson, currently a surface lot right behind the VB 1224 Loft building. Same concept, a taller thinner building with public green space. DOA.
-1035 W. Vanburen is battle they lost. The building's program is being changed to rental and the tower is getting a bit shorter and squatter, which of course WLCO loves.
1260 W. Madison, two 13 story buildings on a retail podium with some open space as well. The towers have been shortened, and don't quote me on this but I think some retail parking will now be provided in a stand alone surface lot. Of course, if they could easily go taller more units would offset the cost of larger parking garage.
There have been a couple others, but I don't know the details on how far along in concept the project was. Most developers don't even bother anymore, as this uphill batter for taller, denser structures always ends up as a waste of time and money. The result is ugly and cheap mid-rise buildings. Yes, the cost of the structure is cheaper, but the land is still expensive which is why the sale price of the units is comprable to units elsware in downtown. They take longer to sell here because there is ghost town outside the front door, and few to no amenities inside the smaller buildings. Where as, a simmilar price can buy them a same unit in a more vibrant part of downtown, and in a better building.
I saw a figure not to long ago that stated that land for sale in the West Loop is the second highest per square foot on average in the downtown area. Granted, that probably includes everything west of the river which would raise the average, but my point is market conditions due exist for larger buildings.
Furthermore, everyone is bitching about how the CTA has its budget issues, well then what the hell is Chicago doing to pack more riders into under utilized trains and buses to increase CTA's farebox revenue? Here is an area with bus lines on nearly every east-west street, and three rapid transit lines all with ample capacity for more riders. Most cities would kill to even have that level of service, and here it is being wasted. IMO, the new station at Lake and Morgan should NOT be built untill the neighborhood is more willing to accept higher density, otherwise this is a wastefull expenditure when the rest of the system needs more capitol funds.